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Eagle Plains Partner Canter Resources Completes Field Program at at Schotts Lake Copper Project
CRANBROOK, BC / ACCESSWIRE / July 19, 2022 / Eagle Plains Resources Ltd. (TSX-V:EPL) ("EPL"...
About this update from Eagle Plains Resources Ltd.
[{"type":"text","content":"Eagle Plains Partner Canter Resources Completes Field Program at at Schotts Lake Copper ProjectCRANBROOK, BC / ACCESSWIRE / July 19, 2022 / Eagle Plains Resources Ltd. (TSX-V:EPL) (\"EPL\" or \"Eagle Plains\") has been notified by option partner Canter Resources Corp. (CSE:CRC) that the 2022 field program at EPL's 100%-owned Schotts Lake Cu-Zn project has been completed. The claims cover an area of 2160ha located in eastern Saskatchewan, 40 km northwest of Flin Flon, Manitoba. Access to the property is gained via winter road and/or float plane.Canter holds the exclusive right to earn a 60% interest in the Schotts Lake project by completing $5,000,000 in exploration expenditures, making $500,000 in cash payments and issuing 1,000,000 common shares to Eagle Plains over a four year period. A 2% NSR is reserved for Eagle Plains, which may be reduced to 1% upon payment by Canter of CDN$1M.2022 FieldworkThe 2022 field program included soil sampling, lithogeochemical sampling and geological mapping on high priority targets identified by the 2021 EM geophysical survey. Comprehensive geophysical modelling of property geophysical data, including a high resolution 2008 VTEM survey, is underway. The results from this modelling will be used to generate drill targets in areas of known mineralization and in areas outside the Schott's Lake deposit. The 2022 program work was managed by TerraLogic Exploration Services of Cranbrook, BC.Analytical results from the fieldwork are pending and will be released once they have been received, compiled and interpreted.See Schotts Lake Property Map hereSchotts Lake Geology and HistoryThe Schotts Lake property hosts metamorphic and intrusive rocks which are dominantly volcanic in origin and associated with an island arc environment. The rocks are folded into an easterly-dipping synform. Mineralization was first discovered in 1953 by Kay Lake Mines. A total of 79 drill holes have been completed for a total of 9516m (31,200') and a historical resource of 1,983,850 tonnes grading 0.61% copper and 1.35% zinc (Aur Resources, 2003-SDMI 0320). Notably, the historical resource did not include precious metal enrichment and/or cobalt. Eagle Plains' management considers these estimates to be historical in nature and cautions that a Qualified Person has not done sufficient work to classify the historical estimates as cu...